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#460143 - 12/19/17 05:25 PM Xceligent shutdown, what are your thoughts?
FlyerRE Offline
Member

Registered: 11/29/17
Posts: 42
Loc: El Paso, TX
Hi everyone,

I was kind of shocked to see that industry big shot, Xceligent, filed for bankruptcy and shutdown operations due to poor management and most importantly the lawsuit against CoStar, leaving many of its clients to fend for themselves.

So I'm curious to learn if anyone has been affected. What are your options? Is it a big impact in your daily operations? What are your thoughts in general?

Thanks!
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#460144 - 12/20/17 05:35 AM Re: Xceligent shutdown, what are your thoughts? [Re: FlyerRE]
Long Walk Offline
Member

Registered: 06/27/08
Posts: 304
Loc: New Hampshire
Exceligent was a bigshot? I never heard of them before your post. I am a commercial appraiser trainee and worked in commercial property tax for the four years prior.

They sound like they were re-selling CoStar's data, which is what every one of these firms does. That includes CompStak.

CoStar actually verifies its own data with a large team of full-time paid researchers. That may mean nothing to anyone who doesn't use commercial data. It is arguable how good that data is, but the sourcing is not arguable. In the commercial world, everyone tries to 1) pretend that their data is as good as CoStar, and 2) harvest CoStar's data.

If you have ever had to do commercial research, you would fully appreciate how valuable CoStar's data is and how totally useless these other firms are.

The only other firm that I can think of that isn't completely like CompStak, Exceligent, etc. is REIS. They have great market level data, but it is almost impossible to drill down to individual property leases or sales. That, and they only have reliable data for CBD's of major metros.

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